Tag Archives: VA home loan rules

The Department of Veterans Affairs has issued some guidance for lenders about principal reduction for VA mortgages. Borrowers who get into trouble with conventional or FHA home loans often wind up discussing foreclosure avoidance options that include principal reduction —...

There are many VA loan fees involved when it comes to purchasing a home with your VA benefits. VA appraisals are mandatory as part of the loan approval process, but the home inspection process is not, it’s an optional part...

One common question about VA home loans involves the purchase of properties other than suburban homes. VA loan benefits allow buyers to purchase a condo, mixed-use property, multi-family units, manufactured or modular homes and many other options. Not all lenders...

The first step in using your VA home loan benefit is to apply for a VA Certificate Of Eligibility. The certificate of eligibility tells your lender that you’re eligible to use the VA loan program, how much VA loan entitlement...

A reader asks, “Can a borrower purchase a new home using his current VA benefit and rent out his existing home (which VA benefit was not used to purchase) ? Can you exclude the previous mortgage payment with rental agreement...

A reader asks, “I’m currently in the IRR. I served in the Army Reserve for 6 years and my husband is currently active duty. I am using my Post 9/11 G.I. Bill and getting BAH payments. That is besides the...

Back in 2011, the Department of Veterans Affairs issued VA Circular 26-11-1, which announced the availability of relocation assistance funds to VA borrowers who were involved with short sales or deed-in-lieu of foreclosure transactions. According to the VA circular, “VA...

A reader asks, “I purchased a home in the early 80s through the VA, it went into default but it was paid off before I was able to leave active duty.” “They have one COE that says that all restoration...

A reader asks, “What is required to refinance a VA IRRRL if the veteran is self employed but your spouse (non veteran) is employed?” This is an interesting question. VA Interest Rate Reduction Refinancing Loans, also known as VA IRRRLs,...

If you’re new to the VA loan program and are considering the purchase of a new home with your VA benefits, there are several questions that are good to ask yourself as you get ready for the planning process. Below...

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